Official Gazette: Ministry of Economy Approves Instructions for Debt Restructuring Contracts
18 febrero 2020

On February 18, the Ministry of Economy issued Resolution 71/2020 containing a series of instructions for signing contracts under the Law to Restore the Sustainability of Public Debt Issued Under Foreign Law, applying the provisions of Law 27,544. Access the instructions here.  

The main point is that the principle of sustainability is to govern the negotiations. The text says that “the restructuring of the sovereign debt must be carried out in a timely and efficient manner to create a stable debt situation in the State, giving special relevance to sustained, inclusive economic growth and sustainable development, minimizing the economic and social costs.”

The resolution establishes the general principles, procedures, obligations and rights governing relations between the Executive Branch and third parties involved in the different types of contracts provided for by law.

The regulation also enshrines an “Administrative Management Circuit to Retain Financial Advisors and/or Placement Agents.” Access the details here.